Emergency Relief for Members
May 4, 2020 - Automatic Loan Advance
In an effort to provide some relief of the financial burden caused by the impact of COVID- 19, Soo Co-op Credit Union is advancing your loan payment(s)* by one month on your current Soo Co-op Credit Union loan(s). This automatic loan advance does NOT include Mortgage Loans, Home Equity Lines of Credit or Commercial Loans. For assistance with loans that are not included the automatic loan advance, please contact us directly. For assistance with Commercial Loans call 906-632-5373 and for Mortgage Loans and Home Equity Lines of Credit, please contact us at 906-632-5370.
An automatic Visa Credit Card deferral will be offered on your April credit card statement to all qualified accounts.
If your payment(s) are on automatic transfer, your transfer will not be stopped. If you would like your transfer to be stopped, please contact us directly at 906-632-5300.
*Advancing your loan due date by (1) payment may extend the maturity date of your loan. Your principal balance may remain unchanged for one or more future payments, and interest will continue to accrue. All other provisions of the original note except those changed by this loan payment advance remain in full force and effect. You may choose to make your payment rather than skipping a payment which may show your loan paid ahead an additional month.
April 23, 2020 - Governor Whitmer and Michigan’s Financial Institutions Agree to Partnership for Providing Borrowers 90-day Mortgage-Payment Forbearance. Click here for Press Release.
Soo Co-op Credit Union is a participant in the Mortgage-Payment Forbearance Program. If you are experiencing any financial hardship with your Mortgage Payment at this time, please contact our Mortgage Department at 906-632-5370 or by email at Mortgages@soocoop.com.
March 17, 2020 - Soo Co-op Credit Union’s commitment to our members and communities we serve includes responding with compassion and urgency to those who are experiencing financial hardship during these difficult times.
Our debt management experts will review your situation to help find options that work best for you to help with expenses associated with unexpected hardship. Please contact our Loan Dept by phone or text 906-632-5373 or our Mortgage Dept by phone or text 906-632-5370.